– AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion(Asset Only) – AAA Lendings Detail:
Overview
A borrower sold their multi-million dollar business and then found the home of their dreams but had no source of income to document.
Details
1) Up to $2.5M loan amount;
2) Up to 80% LTV;
3) DTI ratio is 50%;
4) Cash-out is accepted;
5) No need employment information in loan application;
6) Asset divide 84 or fixed loan terms to get the borrrower qualified income.
What is the program？
• Is your job or income failed to qualify a mortgage loan?
• Do you have enough assets in you account?
• Do you just sold one property and want to buy another house?
• Don’t you want to provide varieties of income documentations?
• Do you wonder how the lenders approve your loan without considering DTI ratio?
Asset Depletion/ Utilization helps these applicants when you’re in this situation. It’s general Non-QM program, also named “asset only”. You don’t need to provide any employment information and income documents when apply for this program.
It may be used as the sole source of income for loan qualification or to supplement other income sources. When used to supplement other income sources, the minimum asset requirements under qualification method are waived.
What’s the benefit?
1) No need to provide any income documents;
2) Primary house only;
3) Reduced documents
4) Easy to qualify
What assets can be used for this program?
Assets must be liquid and available with no penalty; additional documentation may be requested to validate the origin of the funds:
• 100% of Checking, Savings, and Money Market Accounts;
• 70% of Stocks, Bonds, and Mutual Funds;
• 70% of Retirement Assets: Eligible if the borrower is of retirement age (at least 59 ½);
• 60% of Retirement Assets: Eligible if the borrower is not of retirement age.
Assets ineligible for depletion
For this program, you may take care of below limitations. Several kinds of types can not be used even though you can use these assets by yourself:
• Equity in Real Estate;
• Privately traded or restricted/non-vested stocks;
• Any asset which produces income already included in the income calculation:
• Any assets held in the name of a business.
Product detail pictures:
Related Product Guide:
In the world of mortgage lending, accessibility is key. Our digital mortgage platform is designed with your convenience in mind. You can apply for a mortgage, upload documents, and track your loan progress online, all from the comfort of your home. We've created an engaging digital experience that puts you in control, ensuring that you can manage your mortgage application at your own pace, 24/7. – AAA Lendings Non-QM Non-DTI ratio Program – Asset Depletion(Asset Only) – AAA Lendings , The product will supply to all over the world, such as: Finland , Eindhoven , Iran , Qualified R&D engineer might be there for your consultation service and we will try our best to meet your requirements. So you should feel free to contact us for inquiries. You'll be able to send us emails or call us for small business. Also you are able to come to our business by yourself to get further knowing of us. And we are going to surely present you with the best quotation and after-sale service. We're ready to build stable and friendly relations with our merchants. To achieve mutual success, we'll make our best efforts to build a solid co-operation and transparent communication work with our companions. Above all, we're here to welcome your inquiries for any of our merchandise and service.
By Ingrid
from
Grenada
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2017.08.21 14:13
This manufacturer can keep improving and perfecting products and service, it is in line with the rules of market competition, a competitive company.
By Michelle
from
Estonia
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2017.05.21 12:31
